Car insurance

[daored]

Has anybody recently received a car insurance quote? Received a new quote and premium increased from £370.53 to £611.93. No change in vehicle, no claims , no convictions in 12 months. When asked how they can justify the increase in cost , explained they’re unable to detail their underwriting criteria !

[elhombrecito]

Yeah mine pretty much doubled too. Able to get cheaper on the comparison sites but still much more expensive than I was paying before.

[OneTeamInBristol]

Yes car insurance has gone through the roof recently with seemingly no reason for it.

As you say no changes in details or circumstances and I've seen 60/70% increases on premiums.

[Northern Red]

Mine reduced by about 20% at the start of the year. Fully expecting them to claw that back and then some next time around.

[Baba Yaga]

I sorted mine out recently, believe I only paid £70 more than last year. I always call them up and say I can get a better deal from whoever from price comparison and they knock the price down a bit (although only by like £20 this time), I also learnt a few years ago that the cheapest time to renew is 3 weeks before so have done that since, wonder if all that comes up when they decide what to quote because I paid like 20% more which whilst not great sounds like it could be worse.

[CodeRed]

Yes, best to get a quote off the comparison sites 3-4 weeks before your current policy expires, it does go up the nearer the expiry date.

One of the cars in our family went from £380 to £600 - no changes, accidents, claims or points - we did find it somewhere else for less but still paid £100 more.

Costs have gone up I'm sure but not to justify the amount increased. I'm sure the Ins. Co's are taking advantage of the economic situation.

[Super]

mine went up just over a hundred quid.

[phantom]

1 hour ago, daored said:

Has anybody recently received a car insurance quote? Received a new quote and premium increased from £370.53 to £611.93. No change in vehicle, no claims , no convictions in 12 months. When asked how they can justify the increase in cost , explained they’re unable to detail their underwriting criteria !

Get onto the Meerkats

[And Its Smith]

3 hours ago, OneTeamInBristol said:

Yes car insurance has gone through the roof recently with seemingly no reason for it.

As you say no changes in details or circumstances and I've seen 60/70% increases on premiums.

https://news.sky.com/story/amp/why-has-the-price-of-car-insurance-gone-up-so-much-12910284

[italian dave]

I know many posters hate to go there....but on the politics forum this was mentioned in the 'cost of living' thread just a week or two ago, and someone posted a shot of something they'd had from LV explaining why costs are increasing.

I noticed in the news yesterday that Admiral have lost a huge % of customers this past year as a result of price hikes. They presumably go somewhere else though.

[Slippin cider]

3 hours ago, Super said:

mine went up just over a hundred quid.

Last year I paid £255 and this year after calling them I managed to get them down to £317 ….original quote was £500 +

[Fordy62]

Saw someone on Tesla forum whose quote had gone from £500 to £4,000. 

Ours doubled to £700. Stupid Teslas. 

[TDarwall]

Inflation is hitting the cost of repairs very hard I'd imagine.

Firms can no longer offer better new business prices then they can at renewal, but its still worth shopping around.  There is a phenomenon called "brand stacking" - LV for instance have more than 1 brand on the price comparison websites & as they are set up as separate entities some have better prices than others.

 

[Dollymarie]

Am literally dreading my insurance renewal in a few months. Had 11 years of no claims, and then a minor bump in February, followed by me aquaplaining on the M5 and unfortunately writing my car off in March means I’m fearing mine is going to go through the roof 

[daored]

9 hours ago, phantom said:

Get onto the Meerkats

What are ‘the Meerkats’?

Edited August 18, 2023 by daored

[Lordofthebling]

Compare the market or 'meerkat'. You might even get some cinema tickets out of them.

You've got a few comparison sites to choose from.

I use gocompare as my insurance tried to double mine on an auto renewal but found a better deal on there.

Nothing in this game for loyalty. 

Edited August 18, 2023 by Lordofthebling

[redsquirrel]

27 minutes ago, Lordofthebling said:

Compare the market or 'meerkat'. You might even get some cinema tickets out of them.

You've got a few comparison sites to choose from.

I use gocompare as my insurance tried to double mine on an auto renewal but found a better deal on there.

Nothing in this game for loyalty. 

exactly this, mine last year was £200 through mark richard brokers, this year they wanted £280. no difference in circumstances etc. went on go compare,budget car insurance offered same cover,free breakdown cover and £250 cash back if £300 excess called upon for £167

[Maesknoll Red]

Just swapping my T5 for a T6 - thanks Marv…..  New van has quite a few mods and comes in at £490, which is more than I pay for my T5, a MX-5 and a Transit Connect at the moment.

[Reigate Red]

Recently had to renew my car insurance and the initial auto renewal was 25% higher than last year - I thought that was high but soon realised that increases are across the board this year. Unfortunately though I had to inform them a a minor transgression (3points for speed camera) and they whopped it up by 70%. Despite saying that I would look elsewhere they were not interested in discussing a reduction. So I went elsewhere and got it back down to the 25% increase. 

House insurance comes in next month and not sure what to expect from that now.

[iamalagerdrinker]

I made the mistake just before COVID of stopping my car insurance as I didn't need a car anymore. Work gave me a van and was able to WFH and didn't realise I would lose my no claims 

 

32 no convictions looking at about £600 to tax a 1.0 litre car! 

[Lanterne Rouge]

There`s also an epidemic of staged accidents at the moment - they did a feature on PW last week about it. The Frome area is particularly bad apparently for some reason. I`m sure most of them get found out, particularly with dashcams, but if a few get through it pushes up the cost for everyone.

[Ronnie Sinclair]

Parents have just had theirs go up by about 300 quid too - Churchill wouldn't insure me at all on a BS14 post code back in March, another necessary expense that we are being fleeced for

[ChippenhamRed]

My renewal was £823 compared with £369 last year. That’s 223%! I refuse to believe that inflation for car repairs gets anywhere near justifying that.

Using a price comparison site I’ve managed to find it for a bit less than £600. Still an enormous hike and, again, nowhere near justified by inflation.

We are being taken for a ride on so many fronts in this country, I’m absolutely sick of it.

[mozo]

Shop around at every renewal

[ralphindevon]

Crikey, reading this is a bit shocking. I’ve managed to keep mine at just over £200 for years for a 2.2l Mazda and my wife’s at around £170 1.3l Mazda, as she doesn’t do many miles.

I’m dreading my renewal now after looking at everyone’s prices.

It’s one of those rare times I’m glad I’m not young any more.

[And Its Smith]

On 21/08/2023 at 13:39, iamalagerdrinker said:

I made the mistake just before COVID of stopping my car insurance as I didn't need a car anymore. Work gave me a van and was able to WFH and didn't realise I would lose my no claims 

 

32 no convictions looking at about £600 to tax a 1.0 litre car! 

If you were driving your van for work and didn’t crash, and get a letter from your work to confirm that, some insurance companies will take that as proof of no claims 

[mozo]

I actually got a small discount this year so I feel slightly bad now. Then a week later my car needs repair up to £1k...

[Erithacus]

Just done my renewal. I had a letter from my current insurers stating that they were unable to provide a renewal due to their 'feature not being ready', despite me having spent my money a year ago. Did the trawling through the comparison sites and got a best quote - from the same company! Smoke and mirrors or what?

I hope I don't have to make a claim as they don't fill me with confidence.

[Pickle Rick]

Many reasons for the car insurance price hikes, some being…

Cost of parts, even ‘green parts’

Longer wait for parts (back order). This would affect accident related non-drivable vehicles, especially where customers have courtesy cars longer

Used car market inflation - this being a ‘thing’ due to shortages of parts among other issues for production of new vehicles

Accident claims & volume. This seems to have risen since Covid apparently 

The amount of bodyshops and skilled personnel don’t meet the levels required to cope with demand

…. So even with all the safety associated technology on vehicles (ADAS), there doesn’t seem to be much of an improvement on the roads meaning a reduction in accidents/claims.

And to think, the government are trying to push for a MOT every two years and first MOT at four years If anything, the MOT should be something taken more seriously and priced at a standardised fee around £80-90!

[Wedontplayinblue]

On 21/08/2023 at 13:39, iamalagerdrinker said:

I made the mistake just before COVID of stopping my car insurance as I didn't need a car anymore. Work gave me a van and was able to WFH and didn't realise I would lose my no claims 

 

32 no convictions looking at about £600 to tax a 1.0 litre car! 

You don’t lose your no claims, you will have it from your private car and then from your work van.

nearly all insurers count company car and vans no claims now, you just need a letter from your employer saying you haven’t crashed etc